If you file for bankreuptcy, do you lose your old age, cpp and past employment pension. Also, if you have a term life insurance policy, can you keep it.
Bankruptcy Alberta: Free Information about Bankruptcy in Alberta
If you file for bankreuptcy, do you lose your old age, cpp and past employment pension. Also, if you have a term life insurance policy, can you keep it.
Your Old Age Security, CPP Pension, and Employer Pension are not at risk during the filing of a bankruptcy. However, all your income is total up to determine if you will qualify for the minimum cost of a bankruptcy or if you have surplus income obligation.
In terms of your term life insurance, if there is no cash surrender value then you don't have to worry about the insurance being impacted.